Manchester offers landlords a 'golden buy-to-let opportunity'

There are great opportunities for buy-to-let investors to purchase new properties in Manchester, according to one estate agent.

Julie Twist explained this week that rental opportunities abound in the north-west city, with the buy-to-let market currently in a very healthy state and this being the busiest time of the year.

Even factoring in other costs such as landlords insurance, it is possible to get a bargain in the city - particularly if you intend to let out your properties to students, thanks to Manchester's large undergraduate population.

Ms Twist, managing director of Julie Twist Properties, said that the city's rental market has been in a healthy state all year, with a lot of stock coming onto the market in June and July.

"We have found quite a few more people are buying to rent out or are buying for students who are studying in Manchester so that they can share accommodation with friends and things like that," she said.

"The market is at the rock bottom with asking prices on the sales side, and the returns on rentals are good, so it is all good for the landlords."

Ms Twist was speaking following the publication of the latest Knight Knox International report, which also identified Manchester's buy-to-let market as a particular bright spot for UK property investment.

That data suggested that the reason for the city's success can be attributed to the way it has attracted a strong supply of tenants looking to avoid the premium rents that come with renting in London.

The company's sales director Martin Copland said: "The buy-to-let market in Manchester has become increasingly popular over the last 12 months, with landlords looking for rental stock in prime locations like the city centre and Salford Quays."

Knight Knox International noted that rental prices in Manchester have risen steadily over the past five years, with property prices now starting to rise as well, as the market begins to turn.